The Ethics and Anti-Corruption Commission (EACC) is investigating former and current Central Bank of Kenya (CBK) officials for their role in the multi-billion shilling accounting fraud that felled Imperial Bank, Kenya based Business Daily reports. EACC deputy chief executive Michael Mubea said yesterday investigations into the activities of the unspecified
Read More
Bank of Uganda (BoU), the regulator of the banking industry is in a tight corner after recording unprecedented operating losses in the last few years. This state of affairs has left the Central Bank with less capital, a development that may adversely affect the banking industry and the economy at
Read More
The Uganda shilling slipped against the US dollar during the week ending 25th May 2018 undermined by a surge in demand mainly from fuel importers , some corporate players as well as interbank. Trading was in the range of 3735/3745. In the interbank money market rates held steady with overnight
Read More
When President Uhuru Kenyatta and his erstwhile opponent Raila Odinga walked down the stairs of Harambee House and shook hands in early March, there was a tectonic shift in Kenya’s political scene. The two had been engaged in a gruelling duel of two back-to-back elections, just five years after another
Read More
Cnooc Ltd., the Chinese oil company developing Uganda’s crude finds with Total SA and Tullow Oil Plc, said production at its Kingfisher field will probably start in 2021. nooc is likely to bring Kingfisher on stream three years after making a final investment decision, expected later in 2018, according to
Read More
The Africa Innovation Summit Wednesday announced the innovators selected from across the continent to exhibit their solutions at the forum, which will take place from 6 to 8 June 2018 in Kigali, Rwanda under the esteemed patronage of His Excellences President Paul Kagame and Pedro Pires (ex-President of Cabo Verde
Read More
Munyonyo Commonwealth Resort on Thursday was awarded the prestigious TripAdvisor Certificate of Excellence, adding to the number of international awards the Munyonyo based hotel has won in recent years. “It’s a great experience and feeling to know that our guests have given us good reviews which shows that we have
Read More
Tanzania has directed multinational companies operating in the country's extractive sector to open local bank accounts so authorities can scrutinise their finances. The move is in line with new mining laws aimed at curbing illicit financial flows in the oil and gas subsectors. The companies are required to comply with
Read More
Talks in Ethiopia to revive South Sudan’s failed 2015 peace pact and end the country’s civil war broke up on Wednesday without a deal, mediators said, potentially prolonging a conflict that has killed tens of thousands of people and displaced millions. Regional grouping IGAD has been helping to mediate and
Read More
South Africa's President Cyril Ramaphosa has announced that he will be donating half of his salary to charity. Mr Ramaphosa said the gesture was aimed at encouraging the wealthy to dedicate some of their pay to help build the nation. The donation of 1.6m rand ($130,000; £100,000) will be managed
Read More
